Home Bitcoin Cash Price Analysis: BCH/USD trends in a downward channel formation as price drops below $230
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Bitcoin Cash Price Analysis: BCH/USD trends in a downward channel formation as price drops below $230

FX Street
Published date:
  • BCH/USD is trending in a downward channel formation and has dropped below red Ichimoku cloud.
  • The MACD hints at an upcoming reversal of bullish momentum.

BCH/USD daily chart

BCH/USD daily chart

BCH/USD bears remained in charge for the third straight day as the price fell from $230.12 to $228. The price is trending in a downward channel formation and has fallen below the red Ichimoku cloud. The MACD line is looking to cross over the signal line. This hints at an upcoming reversal of bullish momentum.

Support and levels

BCH/USD has strong resistance at $230 (SMA 20), $237.45 and $243.60. On the downside, healthy support lies at $222.72 and $216.55.

Key levels

 

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